$NE announced the retirement of Chairman, President and CEO David W. Williams, and the election of Julie J. Robertson to succeed Mr. Williams in such roles. Mr. Williams plans to remain with the company through February 2018, serving in an advisory capacity.

$NE said certain of its subsidiaries have received commitments from lenders to enter into a new credit facility. $NE expects to close on the new credit facility by the end of 2017. The new credit facility is expected to provide borrowing capacity of $1.5Bil with an expected maturity of January 2023.

$NE commented on a complaint filed against the company by the Paragon Litigation Trust in connection with the August 2014 spin-off by Noble of Paragon Offshore. The company reiterated its position that the spin-off was a thoughtfully executed strategy. The company will take all appropriate action to vigorously defend itself.

$NE appointed Robert Eifler as VP and General Manager, Marketing and Contracts, effective July 17, 2017. Simon Johnson, who previously managed $NE's marketing and contracts efforts, has left the company to pursue other interests.

Offshore drilling contractor $NE reported a net loss for 1Q17, hurt by the negative impact of a non-cash, discrete tax item of $260MM, or $1.07 per diluted share. $NE reported net loss for the quarter of $301.69MM or $1.24 loss per share compared to a net income of $105.48MM or $0.42 per share a year ago. Revenue fell 40.68% to $362.97MM.

$NE's CEO David Williams said, "Our industry continues to experience weakness, but Noble's strong base of revenue, which totals more than $1.0Bil in 2017, along with further reductions in contract drilling costs and capital expenditures, should result in another year of positive free cash flow."

$NE reported a wider loss in 4Q16, hurt by lower revenue and a charge of $1.3Bil, or $5.34 per diluted share, relating to the impairment of five rigs and certain other capital spares. Net loss was $1.3Bil or $5.36 per share versus net loss of $152MM or $0.63 per share in the prior year quarter. Revenue dropped 52% to $410MM from $857.7MM in 4Q15.

$NE appointed Adam Peakes as CFO and SVP, effective Jan. 23, 2017. In his new role, Peakes will oversee corporate finance, financial reporting, accounting, tax and treasury activities at the company.

$NE's BoD approved elimination of its quarterly cash dividend of $0.02 per share, effective immediately. The continuation of challenging fundamentals in offshore drilling industry, which have led to lower fleet utilization, was central to its decision. Elimination is expected to reduce annual cash expenditures of about $20MM.

$NE said its BoD has scheduled the payment of its quarterly cash dividend of $0.02 per share. The ex-dividend date is expected to be July 28, 2016, with a record date of Aug. 1, 2016 and a payment date of Aug. 8, 2016.

For 2Q16, $NE said it expects to recognize revenues associated with these two rigs of approx. $431MM, which includes a $348MM termination fee, $52MM related to 2Q16 operations through the date of termination and $31MM for the accelerated recognition of other deferred contractual items.

$NE said in addition to the $540MM, it can receive additional contingent payments from Freeport of $25MM and $50MM depending upon the average price of West Texas Intermediate crude oil over a 12-month period beginning June 30, 2016.

$NE said that it has now received the full settlement value of $540MM from $FCX pursuant to the previously announced settlement and termination agreement between Noble, Freeport and Freeport's oil and gas subsidiary. $NE received $540MM in cash through the receipt of Freeport shares.

$NE said its drilling contracts for drillships Noble Sam Croft and Noble Tom Madden with Freeport-McMoRan Oil & Gas and its parent $FCX will be terminated as planned, and $FCX will pay $NE $540MM. In addition, $NE can receive additional payments of $25MM & $50MM respectively, depending upon the average price of oil over a 12 month period.

$NE announced a decision by its BoD to adjust the company's dividend and declare a quarterly dividend of $0.02 per share. The ex-dividend date for this payment is expected to be April 28, 2016, with a record date of May 2, 2016 and a payment date of May 9, 2016.

$NE will take control of the regulation of Paragon's Mexican income, tax audit and assessment matters for specified years up to 2010. Paragon and $NE will share other income and tax liabilities arising out of such audit process. $NE expects the net amount it will pay over the period of the settlement for its portion of the taxes to be $8-12MM.